Alphabet Inc. $GOOG Stock Holdings Decreased by Resolute Advisors LLC

Key Points

• Resolute Advisors LLC significantly reduced its stake in Alphabet Inc. by 85.4%, selling 3,083 shares and holding just 528 shares valued at $82,000.
• Alphabet recently reported a quarterly earnings of $2.31 EPS, exceeding analyst expectations, with a revenue of $96.43 billion, up 13.8% year-over-year.
• The company announced a quarterly dividend of $0.21 per share, representing a 0.4% dividend yield and a payout ratio of 8.95%.

Resolute Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 85.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 528 shares of the information services provider's stock after selling 3,083 shares during the period. Resolute Advisors LLC's holdings in Alphabet were worth $82,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. CW Advisors LLC grew its stake in shares of Alphabet by 45.4% during the 1st quarter. CW Advisors LLC now owns 249,611 shares of the information services provider's stock valued at $39,389,000 after buying an additional 77,936 shares during the period. Summit Financial LLC raised its stake in shares of Alphabet by 65.6% in the 1st quarter. Summit Financial LLC now owns 81,307 shares of the information services provider's stock valued at $12,703,000 after acquiring an additional 32,206 shares during the period. Kaufman Rossin Wealth LLC purchased a new position in shares of Alphabet in the 1st quarter valued at $246,000. Tiemann Investment Advisors LLC raised its stake in shares of Alphabet by 0.8% in the 1st quarter. Tiemann Investment Advisors LLC now owns 12,694 shares of the information services provider's stock valued at $1,983,000 after acquiring an additional 98 shares during the period. Finally, Partners Capital Investment Group LLP purchased a new position in shares of Alphabet in the 1st quarter valued at $270,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GOOG shares. Raymond James Financial reissued an "outperform" rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Cowen reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer reissued an "outperform" rating and issued a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Finally, Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $215.19.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,719 shares of company stock valued at $47,223,172. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Up 1.6%

NASDAQ:GOOG traded up $3.3960 on Monday, reaching $210.1160. The stock had a trading volume of 12,632,009 shares, compared to its average volume of 23,663,623. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $187.71 and a 200 day moving average of $174.60. The stock has a market cap of $2.54 trillion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $211.09.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.